Hiscox Transitions to Sapiens Insurance Platform on Cloud
The recent live deployment of the Sapiens Insurance Platform on Sapiens Cloud marks a significant milestone for Hiscox, enhancing their operational efficiency and fostering business growth.
Strategic Migration to Cloud Technology
Having partnered with Sapiens since 2014, Hiscox UK undertook a strategic shift from their Microsoft Azure operations to the Sapiens Cloud. This migration is aligned with their broader objectives to improve application performance and technical agility.
The transition to Sapiens' cloud-native architecture, particularly powered by Kubernetes, brought Hiscox an average application performance boost of 30%. This enhancement is not just about speed; it has led to better productivity and a consistent service experience for their clients.
Enhanced Integration and Digital Capabilities
The migration allows Hiscox to tap into Sapiens' investment in research and development. They now enjoy a modern API layer that paves the way for superior integration with leading solutions in rating, rules, and document management. Additionally, the improved architecture supports extended digital trading capabilities, which is vital for Hiscox's diverse offerings across both commercial and high-net-worth individual lines.
Key Insights from Hiscox Leadership
Ian Wrigglesworth, Hiscox CTO, emphasized the importance of this upgrade, stating, "Sapiens Insurance Platform is pivotal to Hiscox's continued growth, enabling us to create a connected ecosystem with the best technologies available." This successful deployment consolidates two years of innovative features into a single update, reinforcing the operational backbone that is essential to their growth strategy.
Roni Al-Dor, President and CEO of Sapiens, underscored their long-term collaboration by saying, "This partnership with Hiscox exemplifies our commitment to delivering real business benefits. Migrating to the Sapiens Cloud not only provides Hiscox with cutting-edge technology but also lays a strong foundation for ongoing innovation and sustainable growth."
About Hiscox Group
Hiscox is a distinguished global specialist insurer, with headquarters in Bermuda and a listing on the London Stock Exchange (LSE: HSX). Their goal is to be a leading specialist insurer with a well-rounded portfolio that balances catastrophe-exposed ventures with stable local specialty businesses, fostering opportunities for profitable growth throughout the insurance cycle.
Employing over 3,000 individuals across 13 countries, Hiscox serves customers around the globe. Their retail operations in various regions offer unique insurance products tailored for commercial and personal lines. Their bigger ticket and reinsurance business is handled through Hiscox London Market and Hiscox Re & ILS.
Hiscox's values are centered around people, courage, ownership, and integrity. Their commitment to honoring their promises is illustrated by their award-winning claims service, which has built a strong reputation in the industry.
About Sapiens International Corporation
Sapiens International Corporation (NASDAQ: SPNS) is a leading provider of intelligent software solutions specifically tailored for the insurance sector. With their robust platform and customer-focused initiatives, Sapiens empowers insurers to experience operational excellence amidst a rapidly changing landscape.
The organization specializes in utilizing advanced AI and automation technologies to enhance core solutions spanning property and casualty, as well as life insurance sectors. Their customer base includes over 600 clients in more than 30 countries, showcasing their expansive reach and industry recognition.
Elevating the Insurance Experience
By continuously innovating and forming strategic alliances, Sapiens strives to support the entire transformation journey for insurers, ensuring their relevance and success in an evolving market environment.
Frequently Asked Questions
What is the significance of Hiscox transitioning to the Sapiens Cloud?
Hiscox's migration to the Sapiens Cloud enhances their operational efficiency, customer satisfaction, and technological agility by utilizing a modern API layer and advanced digital capabilities.
Who is Ian Wrigglesworth, and what did he say about the new deployment?
Ian Wrigglesworth is the CTO of Hiscox, and he indicated that the Sapiens Insurance Platform is critical for Hiscox's growth by enabling a connected ecosystem of technologies to meet strategic objectives.
How has the application speed improved for Hiscox?
Hiscox experienced an average improvement of 30% in application speed after migrating to the Sapiens' cloud-native architecture powered by Kubernetes.
What are some of the services offered by Hiscox?
Hiscox offers specialized insurance products for both commercial and personal lines, serving diverse markets globally.
How does Sapiens assist its clients in the insurance industry?
Sapiens helps insurers harness modern technologies like AI and advanced automation to enhance operational efficiency, thereby ensuring their future relevance in the insurance market.
